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Savings accounts

There are lots of reasons why you might need to put some money aside. Good news is we've got lots of different ways to save too, so you can do it the way you want. Take a look at our savings account options below to find your fit.

You’ll get a competitive rate of interest by saving online, regardless of how many transfers you make from the account.

Want to earn bonus interest? All you have to do is make one deposit and no transfers each month.

Earn a term deposit sized return with this longer-term savings option that you can add money to anytime - what's more, there's the potential to pay less tax on savings depending on your Income Tax Rate.

You’ll get competitive returns by saving online, regardless of how many transfers you make from the account, but with the potential to pay less tax on your returns.

Perfect for your longer terms savings with bonus returns when you make one deposit and no withdrawals each month, plus potential tax savings.

Our no-fuss savings account offers the same competitive interest rate, no matter what your balance. Dip in and out of it as you like.

Fancy a savings account with some fun on the side? This account offers the chance to grab a share of $100,000 cash each month.

Withdrawals: First manual or electronic withdrawal each month is free. Additional transactions are $1 per transaction.

Deposits: Free

Withdrawals: $1 per transaction

(To operate the Online Saver account, you must hold a Westpac transaction account. Any transfers from your Online Saver Account can only be made directly to your transaction account. ATM access is for balance enquiry, funds transfers and deposits only – no cash withdrawals can be made.)

(To operate the Online Bonus Saver account, you must hold a Westpac transaction account. Any transfers from your Online Bonus Saver account can only be made directly to your transaction account. ATM access is for balance enquiry, funds transfers and deposits only – no cash withdrawals can be made.)

(To make withdrawals from your Online Saver PIE account, you must hold a Westpac transaction account. ATM access is for balance enquires, fund transfers and for deposits (if deposit facilities exist). No cash withdrawals from ATMs can be made.)

(To make withdrawals from your Online Bonus Saver PIE account, you must hold a Westpac transaction account. ATM access is for balance enquires, fund transfers and for deposits (if deposit facilities exist). No cash withdrawals from ATMs can be made.)

(Withdrawls include Eftpos, Westpac ATM transfers/withdrawals, automatic payments once set up (service fee applies to set up or amend), direct debits/credits, bill payments, online and phone banking payments)

(Withdrawls include Eftpos, Westpac ATM transfers/withdrawals, automatic payments once set up (service fee applies to set up or amend), direct debits/credits, bill payments, online and phone banking payments)

Manual transactions

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Manual transactions over the counter are not available. However, deposits can be made through branch deposit boxes.

Manual transactions over the counter are not available. However, deposits can be made through branch deposit boxes.

Manual transactions over the counter are not available. However, deposits can be made through branch deposit boxes.

Manual transactions over the counter are not available. However, deposits can be made through branch deposit boxes.

Manual transactions over the counter are not available. However, deposits can be made through branch deposit boxes.

Deposits: Free

Withdrawals: First manual or electronic withdrawal each month is free. Additional transactions are $3 per transaction.

Deposits: Free

Withdrawals: $3 per transaction

Manual transactions include: Cheques and withdrawals at a branch

Manual transactions include: Cheques and withdrawals at a branch

Interest rates

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3.15% p.a.

0.10% p.a. base interest plus 4.10% p.a.If you make at least one deposit and no withdrawals by the last business day of the month

*“Rate” and “Rates” refer to (a) interest rates for the Simple Saver, Save & Win and Online Saver accounts; and (b) the rate of return for the Online Saver PIE account.

You can get a copy of the current disclosure statement for Westpac New Zealand Limited from any Westpac branch in New Zealand free of charge. Interest rates and fees are subject to change.

Investments made in the Westpac Cash PIE Fund (“the Fund”) do not represent bank deposits or liabilities of Westpac New Zealand Limited (“Westpac NZ”) or any other member of the Westpac group of companies, and are subject to investment and other risks. No Westpac company or any person guarantees the Fund's performance, returns or repayment of capital. Any rates of return are subject to change. Westpac NZ’s General Terms and Conditions (including online banking terms) apply to investments in the Fund and Westpac NZ transaction accounts. You can get more information and free copies of the Disclosure Statement for Westpac NZ, the term sheet for the Fund and Westpac NZ’s General Terms and Conditions from any Westpac branch.